Evercore ISI Lowers Petco Health and Wellness (NASDAQ:WOOF) Price Target to $3.00

Petco Health and Wellness (NASDAQ:WOOF) had its price target dropped by equities research analysts at Evercore ISI from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price points to a potential upside of 11.73% from the stock’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Petco Health and Wellness in a research note on Monday, December 29th. Zacks Research lowered shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.86.

Petco Health and Wellness Stock Down 1.3%

NASDAQ:WOOF traded down $0.04 during trading hours on Tuesday, hitting $2.69. The stock had a trading volume of 161,777 shares, compared to its average volume of 1,870,240. Petco Health and Wellness has a 1-year low of $2.28 and a 1-year high of $4.51. The company has a market cap of $856.62 million, a PE ratio of -268.23 and a beta of 1.72. The company has a current ratio of 0.91, a quick ratio of 0.35 and a debt-to-equity ratio of 1.37. The business has a 50 day simple moving average of $2.98 and a two-hundred day simple moving average of $3.26.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Petco Health and Wellness had a negative net margin of 0.04% and a positive return on equity of 0.46%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. Analysts predict that Petco Health and Wellness will post -0.22 EPS for the current year.

Insider Buying and Selling at Petco Health and Wellness

In related news, CRO Patrick J. Venezia sold 74,192 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $3.08, for a total value of $228,511.36. Following the completion of the transaction, the executive owned 474,848 shares in the company, valued at $1,462,531.84. This trade represents a 13.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WOOF. Holocene Advisors LP grew its stake in shares of Petco Health and Wellness by 42.0% during the 3rd quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock worth $23,575,000 after acquiring an additional 1,800,583 shares during the period. Candlestick Capital Management LP bought a new stake in shares of Petco Health and Wellness during the 3rd quarter worth $6,772,000. Goldman Sachs Group Inc. boosted its stake in Petco Health and Wellness by 60.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock worth $11,095,000 after buying an additional 1,367,299 shares in the last quarter. Norges Bank bought a new stake in Petco Health and Wellness in the second quarter worth $3,770,000. Finally, AQR Capital Management LLC lifted its position in Petco Health and Wellness by 66.9% in the second quarter. AQR Capital Management LLC now owns 2,127,355 shares of the company’s stock valued at $6,020,000 after purchasing an additional 852,767 shares during the last quarter.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.